Cryptocurrency broker – the best choice to trade nowadays?
Crypto broker vs exchange? Doubt is over after the 2020 crises. Many traders profit when using the crypto brokers and many lose when using the crypto exchanges.
The recent days proved why with the cryptocurrency brokers is so much better than the exchanges. Unfortunately, millions of people lost so much money in the exchanges.
Crypto broker vs Exchange
1. When we use cryptocurrency brokers, we can sell it and take the profits when the price gets lower. Something that is not available on the exchanges. In other words, on the exchanges, you can trade only in one direction – up. In trading, we can buy and sell – double opportunities.
2. With the brokers, we execute the trades immediately, no time to wait. Also, when we close the position we close it at the moment. On the exchanges, you can not do it so quickly.
3. There are limitations on the exchanges about the withdraws (recently 1-2 Bitcoins per day with some), with the crypto broker, you can take out your money at any moment (of course the regulated brokers)
4. Crypto Broker vs Exchange? With CFD cryptocurrency trading brokers, you can trade with an expert advisor, which is not possible to be used over the exchanges.
The expert advisor is an automated robot that trades on your behalf, even you are not in front of the screen. This means that with exchanges you are stick on the screen if you want to trade:
5. Crypto broker vs exchange? With the crypto brokers, you can trade a portfolio of expert advisors. In our courses, we show the whole process of creating, selecting and trading with 99 Expert Advisors in the same account.
After that, we choose the best once to put on live accounts. Something not possible with the Exchanges as well.
6. Due to the huge number of people enrolling in the exchanges, some of those, have closed doors and even is someone succeeds to register, it will take another week or two for the verification.
With the cryptocurrency brokers, this is possible within the same working day. So this way, even you want to join cryptocurrency trading on the exchanges you will miss the movements in these two weeks.
7. With the cryptocurrency trading brokers, it is possible to do leveraged trading. This gives the opportunity to traders with small trading accounts to trade bigger positions.
Here good money management is a must. But let’s say you are trading 1 Bitcoin, you will not need the whole amount it costs, but 20%(recently with most of the brokers).
These are the most important things, and here are some on the other side of crypto broker vs exchange:
1. On the exchanges we do not pay spread and swap, which are the huge costs of the brokers. Obviously there are some brokers that are trading at 0.01 cent, which solve that problem.
2. There are many Scam brokers and many people are being scammed daily. If you want to know how to avoid the scam brokers, please, read the topic that we have in the forum, How to recognize the Scam Brokers. And of course, we always assist our students to choose the good and proper broker for trading.
Crypto broker vs Exchanges: Speaking of that, are the Exchanges regulated?
What will happen if one just closes doors, there is not even one regulator or organization staying behind. If that happens with a regulated broker, in each country there are different terms for deposit guaranteed, normally they are somewhere around 20 000 EUR.
For the FCA regulated brokers, the deposits are guaranteed by the Financial Services Compensation Scheme for 50k GBP.
If you are looking for cryptocurrency trading brokers, you need to make the right choice. Make sure to avoid the scam brokers and use only legit ones. If you are looking for an education, please click here.